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The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on April 9 a loan agreement with Sumitomo Corporation for the amount outlined in (1) below, and with Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL) for the amount outlined in (2) below. The loans are co-financed with private financial institutions, including MUFG Bank, Ltd.
| |
Counterparty |
JBIC Loan Amount |
Total Co-Financing Amount |
| （１） |
Sumitomo Corporation |
Up to USD1,216 million |
USD2,027 million |
| （２） |
SMFL |
Up to approximately USD266 million |
Approximately USD444 million |
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These loans are intended to finance part of the funds necessary for the acquisition of Air Lease Corporation (Air Lease), a U.S.-based company, by Sumitomo Corporation, SMBC Aviation Capital Limited (SMBC AC; an Irish company invested in by SMFL), and two other investors.
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Aircraft are an essential part of social infrastructure, indispensable not only for international passenger transportation but also for the transport of critical cargo such as semiconductors and pharmaceuticals. Aircraft leasing companies own approximately half of the world’s commercial aircraft and play an important role in terms of economic security by ensuring a stable supply of aircraft to airlines. Against this backdrop, Sumitomo Corporation and SMFL are engaged in the aircraft leasing business through SMBC AC, which ranks as the world’s second-largest aircraft leasing company in terms of the number of aircraft owned, serviced, and on order as of March 2025, with a customer base spanning 105 companies in 50 countries. Air Lease, the acquired company, is the world’s fourth-largest aircraft leasing company, whose customer base spans 112 companies in 57 countries.
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With the acquisition of Air Lease, Sumitomo Corporation and, indirectly, SMFL will, based on the combined fleet of aircraft owned, serviced, and on order at SMBC AC and Air Lease, achieve a world‑class scale, thereby strengthening their position within the industry. Following the acquisition, the name of the company is Sumisho Air Lease. This loan, which financially supports the overseas M&A of Sumitomo Corporation and, indirectly, SMBC AC, will contribute toward maintaining and strengthening the international competitiveness of the aircraft leasing industry invested in by Japanese companies. By supporting an aircraft leasing company, the loan will also help strengthen international transportation infrastructure and enhance Japan’s economic security.
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As Japan’s policy-based financial institution, JBIC will continue to actively support the expansion of business opportunities of Japanese companies, including their overseas M&A activities, in collaboration with private financial institutions.
